DON’T LET MONEY GET IN THE WAY
OF YOUR GRANDCHILD’S EDUCATION
HELP THEM FIND OPPORTUNITIES TO SAVE. Even if you don’t have thousands of dollars to give, you can still help your grandkids look for other opportunities to save. There are thousands of available scholarships, grants, and programs to help students pay for college, and helping them look online and in your community can go a long way. College could be your grandchild’s first stop on the path to achieving their dreams. You can be a part of that journey by making sure money doesn’t get in the way of that.
College expenses aren’t what they used to be. What used to be affordable to any student with a part-time summer job now can take years to pay off. If your grandkids want to go to college, the cost of education should not be a barrier to their future. Luckily there are ways that you can help ease that financial burden. INVEST IN A 529 SAVINGS PLAN. There are no limits on age, income, or monetary contributions attached to this college savings account, and contributions are tax-deductible in some states. Just like a Roth IRA, the earnings grow over time and can be used tax-free for qualifying expenses, like tuition and room and board. There are a few downsides, however. Funds from a grandparent’s 529 savings plan are considered student income and could hurt your student’s eligibility for financial aid. If you choose to fund through a parent’s 529 savings plan, which doesn’t count as student income, you lose control over the funds you contribute. PAY THEIR TUITION. Not everybody has $20,000 just lying around, but if you do, using it to pay for your grandchild’s tuition isn’t a bad way to spend it. Normally, annual financial gifts that are exempt from the federal gift tax can’t exceed $15,000, but payments toward someone’s tuition, for any amount, are not taxed. Keep in mind, however, that the money can only go toward tuition, not toward other college expenses like room and board or textbooks.
HAPPENINGS AT HEARTLAND
THE GEORGIAN IS OURS!
There’s no better feeling to us than adding another apartment complex to our repertoire, and, in September, we did it again
If you’d like to be on our priority list of investors in order to be among the first to learn about profitable investments like The Georgian, email Darin today at darin.garman@gmail.com.
when we acquired The Georgian — a 24-unit property that includes two 12-unit buildings. The Georgian is located in southwest Cedar Rapids, offering residents an easy commute to nearby offices, restaurants, and entertainment venues. Darin knew The Georgian would be a good buy right away because it was listed at a price well below the market average. Within hours of discovering the property and its remarkable price point, which guaranteed we would make a profit at closing, Darin put the property under contract. Not surprisingly, The Georgian appraised for far more than our purchase price. Even better, it has operated with occupancy every single month. Now that we’ve acquired the property, Darin is in the process of gradually raising rent in order to continue the upward trend in the rate of return on cash flow. Ultimately, this strategy should make the property much more valuable, offering us an even greater return on our investment!
2 DARINGARMAN.COM
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